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The 2014 statement of financial position of Roger’s Tennis Shop Inc. showed long-term debt of $2.3 million, and the 2015 statement of financial position showed long-term debt of $2.55 million. The 2015 statement of comprehensive income showed an interest expense of $190,000. During 2015, Roger’s Tennis Shop Inc. realized the following: |
| Cash flow to creditors | $ | -60,000 |
| Cash flow to stockholders | $ | 415,000 |
| Suppose you also know that the firm’s net capital spending for 2015 was $1,300,000, and that the firm reduced its net working capital investment by $55,000. |
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What was the firm’s 2015 operating cash flow, or OCF? (Enter the answer in dollars, not millions of dollars, i.e. 1,234,567.) |
Cash flow from assets = Cash flow to creditors + Cash flow to stockholders = -$60,000 + $415,000 = $355,000
Cash flow from assets = $355,000 = OCF – Change in NWC – Net capital spending
Cash flow from assets = $355,000 = OCF – (–$55,000) – 1,300,000
Operating cash flow = $355,000 – 55,000 + 1,300,000
Operating cash flow = $1,600,000
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